While the paper is not the official mouthpiece for the
government, it is considered an organ of the Central Committee of
the Communist Party leadership. Even an editorial is thought to
be indicative of government sentiment.

Author Qin Hong pointed to a deepening of the European fiscal
union as a way out of the eurozone mess.

"If it is able to set up a fiscal union, Europe can still turn
its luck around. If the decision comes too late, some (euro)
members may be forced to pull out," the Hong wrote. "But if
Europe keeps dilly-dallying, the situation can only worsen and
gather speed. Outsiders who want to help will not dare, and then
the euro zone may really disintegrate. Without doubt, this would
be a huge disaster for Europe and the world."

China has around $3.05 trillion in foreign currency reserves
according to Reuters,
and stands to lose big in an escalating eurozone crisis.

This commentary suggests that Chinese preoccupation with the
eurozone crisis is escalating. It follows discussions last month
among BRICS countries (Brazil, Russia, India, China, and South
Africa) on lending to Europe to stabilize markets. BRICS leaders
ultimately pointed to the G20 as the proper organization to carry
out such an action.